SM Prime Holdings Inc. is pricing its P25-billion bond sale at a coupon rates of 6.5754 percent for the Series V due 2027, 6.7537 percent for the Series W due 2029 and 6.965 percent for the Series X due 2031.
The proposed issuance is under the company’s P100-billion shelf- registered borrowing program approved by the Securities and Exchange Commission (SEC) on May 23.
The bonds will be sold June 7 to 14.
The proceeds of the fund raising will be used to refinance SM Prime’s debt and expand its property portfolio.
SM Prime tapped BDO Capital & Investment Corp. and China Bank Capital Corp. as the joint issue managers for the offer. They will join BPI Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, and SB Capital Investment Corp. as joint lead underwriters and bookrunners.
The bonds were Series V, W andrated PRS Aaa by Philippine Rating Services Corp.
